faster payments

Faster Payments Service (FPS) is a UK banking initiative to reduce payment times between different banks' customer accounts from the three working days that transfers take using the long-established BACS system, to typically a few seconds.

Source: en.wikipedia.org

Recurring Payments Feature to Draw $30 Billion in Payments to Brazil’s Pix
Recurring Payments Feature to Draw $30 Billion in Payments to Brazil’s Pix
January 28, 2025  |  eCommerce

The soon-to-be-released recurring payments feature of Brazil’s payment system, Pix, is reportedly expected to draw $30 billion in eCommerce payments alone to Pix in two...

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Bank Account Intelligence: The New Frontier in Credit Decisioning
Bank Account Intelligence: The New Frontier in Credit Decisioning
January 28, 2025  |  Authentication

A bank account represents a direct connection to a business or consumer’s daily financial life. It holds all manner of data points that give lenders...

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UK’s FCA Proposes Removing Contactless Limit to Allow ‘Greater Flexibility’
UK’s FCA Proposes Removing Contactless Limit to Allow ‘Greater Flexibility’
January 22, 2025  |  Legal & Regulation

The U.K.’s Financial Conduct Authority may remove the 100-pound (about $123) contactless limit and “set new digital service standards” as part of its efforts to...

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72% of Workers Prefer Instant Payroll If Given Choice
72% of Workers Prefer Instant Payroll If Given Choice
January 22, 2025  |  Payroll

As criticism of traditional biweekly and monthly payroll systems increases, workers in gig, freelance and contract roles are more vocal about the financial strain caused...

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88% of Firms Say They Benefit From Faster Payments
88% of Firms Say They Benefit From Faster Payments
January 17, 2025  |  Real-Time Payments

Late payments are a common issue for businesses, especially small- to medium-sized businesses (SMBs) struggling with cash flow. As payment delays persist, businesses are turning...

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Bank of America’s Take on Latin America’s Digital Payments Advantage
Bank of America’s Take on Latin America’s Digital Payments Advantage
January 13, 2025  |  Digital Payments

Digital payments are growing in Latin America as companies like Mercado Libre and TerraPay rapidly advance digital banking and digital wallets in the region. Central...

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SEPA Instant Payments Push Banks and B2B Payments Into the Future
SEPA Instant Payments Push Banks and B2B Payments Into the Future
January 09, 2025  |  B2B Payments

Innovation traditionally moves faster than regulation. Except, as it seems, when it sometimes comes to modernizing legacy banking and payments core infrastructure, where regulation can...

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77% of Travelers Prioritize Experience Over Cost
77% of Travelers Prioritize Experience Over Cost
January 09, 2025  |  Travel Payments

The hospitality industry has seen a resurgence since COVID-19, and international travel and tourism are expected to surpass pre-pandemic levels. To capitalize on the growth,...

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EU’s Instant Payments Deadlines Loom With Challenges for X-Border Payments
EU’s Instant Payments Deadlines Loom With Challenges for X-Border Payments
January 08, 2025  |  Real-Time Payments

Instant payments in the European Union will reach a milestone Thursday (Jan. 9). That’s when banks and payment service providers must be able to receive...

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